Passion is often what pushes us to take the risk to launch our venture. Passion is also what keeps us going when we face the many hurdles and roadblocks that are inherent in almost every entrepreneurial endeavor. Passion is what helps us break into the market and convince a skeptical market to part with their precious dollars to buy what we have to offer.

But passion also can create an interesting paradox for entrepreneurs.

If we let our passion cloud our vision as we assess opportunities we believe are in the market, it leads us to only see the positive evidence to support launching our venture. I see this in my students everyday.

Today’s students, just like many generations before them, have some strongly held beliefs and values.

For example, I see many who want to translate their passion for healthier lifestyles into businesses. But when they are asked to objectively evaluate whether their passion for being healthy is matched by market demand, they become blinded by their strongly held vision. Rather than look for the trends and evidence that their passion will translate into a successful business, they view the start-up as a virtuous mission to change the world. They plan an attack of all of the wrongs in society that have created an unhealthy lifestyle, and translate their passion into a business start-up with little hope of success.

I call this Don Quixote Syndrome.

Mind you, a passion to change the world is a good thing. I tilt at my own windmills everyday. It is just that I have learned that most of my “causes” don’t make good business opportunities.

But this kind of passion does not always mean that they will have a ready market waiting to buy what they are selling. I am not saying that a business model based on passions such as healthier lifestyles are fatally flawed. Rather, when they present their rationale for their business model and the value proposition they are tackling, it is rarely based on a ready and eager market. It becomes a quest to change the way their intended markets think and behave.

While a noble goal, it is a time-consuming and expensive path to creating a successful venture.

So when your passion leads you to want to start a business, take the time to make sure that their are enough willing customers ready to join your quest. If not, stay true to your passion, but find less expensive ways to pursue it than starting a venture that is doomed from the start.

As someone who has also found the syndrome (in myself) … and named it same … I have to agree entirely. The admonition to “follow your passion” still requires perspective and common sense. It’s a saying that sounds good … and much like “Go West, young man,” undoubtedly lured many to an unhappier life, or worse, an unhappy end … should always carry a caveat. Maybe it should be: “Follow your passion, but be prepared to work at Wal-Mart.”
Still, there are times when you’ve just gotta take a “flier.” Much of what is good in the world is built on them.
@advocateur

Thanks, Jeff, for encouraging entrepreneurs to balance their passions with market realities when starting a venture. I work with the Campaign for Free Enterprise, a project of the U.S. Chamber of Commerce, and we understand that a great idea is just one piece of the complex entrepreneurial education. We recently launched the Center for Entrepreneurship to provide entrepreneurs with the advice and tools that will help their big ideas become reality.
I hope you’ll check out the Center at http://www.freeenterprise.com/center/ and join the conversation on our Facebook page at http://www.facebook.com/AmericanFreeEnterprise.
-Hilary, freeenterprise@uschamber.com

I think this is relevant to the undergrad who is looking at where to invest his or her passions into. I currently find myself at a crossroad halfway through college regarding where I want to invest to get a return on my inputs. I want to stay true to my passions, but ‘find less expensive ways to go about doing that’ (is it too costly with as much time spent with people/social stuff or should I be thinking about my future more with what I get involved with). While this may look at “Don Quixote Syndrome” a little different than what you were regarding to passions with ventures, it does speak truth to what I’m dealing with now.

This is so true! I come from a small town. With that being said, I have seen many people attempt to start a new business and fail. They had great ideas, but there was no demand for the business they were trying to start therefore their businesses were unsuccessful. I believe if they had kept this in mind, they would have decided on starting a business with a demand for what they were selling. If I ever decide to start a business in the future, I will definately keep this in mind. Thanks for all your great advice Dr. C!

Interesting article, Dr. Cornwall, thanks for posting it.
Often I feel like DQ; I cannot stand it when something is wrong, and have to try to fix it. Sometimes I make waves for years before something gives (myself, or the cause I have fixated on).
A business needs to focus on what the CUSTOMERS or Potential Customers want, not on what the business owner wants, except for a small niche business in a LARGE population area. In the latter case, a self-focused business person MAY find enough like-minded people to support the business.